Author: omc_admin

Money managers have continued to sell off WTI crude futures contracts and are now the most bearish on the U.S. benchmark in 16 years, the latest positioning data from exchanges showed.At the end of the week to August 12, speculators held the first-ever combined net short across the two major WTI contracts (traded on CME and ICE), Ole Hansen, Head of Commodity Strategy at Saxo Bank, said on Monday in the weekly commentary on the commitment of traders (COT) reports.ICE-traded WTI—which is often used in Brent–WTI spread trades—sat at a net short of about 53,300 lots as of August 12,…

The Department of Energy (DOE) intends to open funding opportunities amounting to nearly $1 billion for projects that would curb the United States’ reliance on imports for critical minerals and materials. In support of the “Unleashing American Energy” presidential order, the planned packages aim to “advance and scale mining, processing and manufacturing technologies across key stages of the critical minerals and materials supply chains”, the DOE said in a statement online. The DOE’s Office of Manufacturing and Energy Supply Chains (MESC) plans a Notice of Funding Opportunity (NOFO) offering up to $500 million to help expand critical mineral and materials…

AIIB voluntarily adopts ISSB disclosure standards, enhancing transparency on climate risks and financed emissions. Report concludes climate-related financial risks are not material to AIIB’s operations. Move aligns with multilateral development banks’ COP28 pledge to support a global baseline for sustainability disclosures. The Asian Infrastructure Investment Bank (AIIB) has released its inaugural Sustainability Report, marking a significant step in aligning with emerging global standards for climate-related financial reporting. The 2024 report applies the International Sustainability Standards Board (ISSB) disclosure framework, positioning AIIB among the first development banks to voluntarily adopt the standards. The report details how climate considerations are integrated into…

Framework integrates Planetary Boundaries into investment decision-making New indicators track ecosystem health, endangered species, and biodiversity impact Aims to align capital flows with nature-positive economic transition ERM has partnered with Nippon Life Insurance Company to design the “Nippon Life Nature Finance Approach,” a framework that embeds biodiversity and ecosystem thresholds into financial decision-making. The initiative seeks to channel investment toward companies that conserve and restore nature while minimizing environmental harm. The framework draws on the Planetary Boundaries model developed by the Stockholm Resilience Centre, applying scientific thresholds to assess how businesses interact with natural systems. Key indicators include Net Primary…

Several liquefied natural gas tankers are heading to Asia from a Russian export facility sanctioned by the US, potentially testing Washington’s resolve to crack down on the trade amid high-level talks over the war in Ukraine.  The Iris and Voskhod vessels, which are carrying shipments from the Arctic LNG 2 plant in Siberia, began traveling to North Asia via the Northern Sea Route on Aug. 15 after being idled for weeks, according to ship-tracking data compiled by Bloomberg. Two other tankers that recently loaded at the plant also started heading toward Asia last week. Arctic LNG 2, led by Novatek…

Capgemini’s chief corporate responsibility officer to lead financial oversight for UNGC USA Brings blend of global business leadership and sustainability expertise Takes over from Michael Okoroafor of McCormick & Company, who retired UN Global Compact Network USA, the American chapter of the UN’s global corporate sustainability initiative, has elected Shobha Meera as treasurer of its Board of Directors. Meera, chief corporate responsibility officer at Capgemini, will guide financial stewardship and strategic resource alignment for the network, which mobilizes U.S. companies around the UN Global Compact’s Ten Principles on human rights, labor, environment, and anti-corruption. At Capgemini, Shobha Meera has driven…

New Delhi: Crude oil futures on Monday fell ₹102 to ₹5,498 per barrel as participants trimmed their positions, tracking weak demand in the spot market.On the Multi-Commodity Exchange, crude oil for September delivery declined ₹102 or 1.82 per cent to ₹5,498 per barrel in 6,275 lots.Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market. Globally, West Texas Intermediate crude oil for September contract was trading 0.11 per cent higher at USD 62.87 per barrel, while Brent Crude for October contract fell 0.03 per cent to USD 65.83 per barrel in New…

Oil flows via the Druzhba pipeline from Russia to Hungary have been halted, following a Ukrainian attack on a transformer station, Hungarian Foreign Minister Peter Szijjarto said on Monday.“Ukraine has attacked again the oil pipeline to Hungary, which has halted petroleum transportation to our country,” Szijjarto posted on Facebook.This is yet another attack against Hungary’s energy security and it is “outrageous and unacceptable,” the official added.The Druzhba pipeline carries Russian crude to Central Europe. The pipeline is a key artery of oil supply from Russia to Europe, with two branches – a northern one via Belarus that supplies Belarus, Poland,…

New software supports compliance with the EU Deforestation Regulation ahead of December 30, 2025 AI-enhanced platform engages hard-to-reach suppliers and ensures traceable, deforestation-free sourcing Companies failing to comply risk EU market exclusion and fines of up to 4% of European revenue Assent Inc. has introduced a new EU Deforestation Regulation (EUDR) solution aimed at helping manufacturers meet the bloc’s looming compliance deadline. The regulation, which takes effect December 30, 2025, requires companies to prove that products entering the EU are deforestation-free, legally produced, and traceable to their land of origin. For large and medium-sized firms, due diligence statements will be…

Sinopec Engineering Group Co. Ltd. on Sunday reported CNY 31.56 billion ($4.39 billion) in revenue for the first half of 2025, up 10.1 percent from the first six months of 2024. The increase was “mainly due to the fact that large-scale projects such as Aramco Huajin, SABIC Mangguo Ethylene, Jihua Transformation and Upgrading and Saudi Riyas entered construction or settlement peak”, said the report on Sinopec Engineering’s website. The petrochemical sector accounted for 63 percent of the total revenue of the energy and chemical engineering multinational, majority-owned by the state’s China Petrochemical Corp., for January-June 2025. The sector logged a…